12 °c
London
Saturday, June 3, 2023
No Result
View All Result
FurtherAfrica
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About
FurtherAfrica
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About
No Result
View All Result
FurtherAfrica
No Result
View All Result
Home Africa

Africa’s top Fintech Companies of 2020

TechGist Africa by TechGist Africa
September 14, 2020
in Africa, Capital Markets, Entrepreneurship, Finance, Fintech, Investing, Startup, Venture Capital
Reading Time: 2 mins read
2.8k 179
0
African Fintech: Growth, Profit and Forecasts
Share via QRWhatsappShare on FacebookShare on TwitterLinkedInPinteresteMail

These African fintech companies, OPay, PalmPay, Flutterwave and Yoco are listed on the third annual Fintech 250: Top Fintech Companies of 2020. The Fintech 250 is CB Insights’ list of the top 250 private fintech companies that leverage technology to disrupt the financial service sector.

It includes startups at different stages of development – from early-stage companies to well-funded unicorns. In the last five years, the 2020 cohort raised about US$49.2B in aggregate funding across nearly 900 deals. Grab, a Singapore-based fintech tops the list of most funds raised with US$9.7B amassed over five years.

These companies out of about 16,000 either applied or were nominated. The 250 were selected based on the data each company submitted, business models, market dominance, and Mosaic scores – CB Insight’s proprietary algorithm that measures the health and growth potential of private companies.

Also read: Venture Capital: And now the EXITS courtesy of the Pandemic

OPayis the most funded company in Africa and 79th in CB Insights’ Fintech 250 list of Top 100 Most Well-fundedFintechs. It has secured US$170M investment from its parent company, Sequoia Capital, IDG Capital, Source Code Capital, Meituan Dianping, and GSR Ventures. The $170 million raised byOPayis only 1.75% of the $7.8 billion raised by Grab over the same five-year period.

PalmPay ranked 195 on the list and has raised US$40M from investors like NetEase, MediaTek, and Transsion Holdings.

South Africa’s Yoco ranked 230 on CB Insights’ list of companies that secured funds in the last 5 years. Yoco raised US$33M investment capital from its biggest investors, including Partech Partners, Greyhound Capital, QuonaCapital, FMO, and Orange Digital Ventures.

Access the full list here.

Related

Tags: africaAfrica's top Fintech Companies of 2020African fintechAfrican startupsCB InsightsfintechFintech 250FlutterwaveFMOfunding roundGrab SingaporeGreyhound CapitalGSR VenturesIDG CapitalInvestingMediaTekMeituan DianpingNetEaseOPayOrange Digital VenturesPalmPayPartech PartnersQuonaCapitalSequoia CapitalSource Code CapitalStartupsTech Gist AfricaTranssion Holdingsunicorn startupunicornsventure capitalYocoафрикаأفريقياアフリカ非洲
ScanSendShare1196Tweet748Share209Pin269Send
TechGist Africa

TechGist Africa

Tech Gist Africa is a leading online technology and digital media outlet, dedicated to providing latest tech news, product launch, startup news across.

Related Posts

Economy

EBC and MultiChoice to strengthen combat of piracy in Ethiopia

by FurtherAfrica
June 2, 2023
Ethiopia energy access
Energy

South Africa private companies to add 4Gw to grid by end 2024

by FurtherAfrica
June 2, 2023
Guidelines for PanAfrican payments and settlement system in Nigeria
Energy

TotalEnergies renews production license for Nigeria’s deep offshore block

by Energy Capital & Power
June 2, 2023
Venture Capital

South African digital bank Tyme raises US$77.8M

by TechGist Africa
June 2, 2023
Banking

AfDB appoints Richard Kwaku Ofori-Mante acting director of the agricultural finance and rural development dept

by Fabio Scala
June 2, 2023
Platform Africa 2023
 
Mozambique eVisa
 
MozParks
 

Translate this page

Read the Latest

Economy

EBC and MultiChoice to strengthen combat of piracy in Ethiopia

by FurtherAfrica
June 2, 2023
0

MultiChoice Africa Holdings B.V (MAH) and the Ethiopian Broadcasting Corporation (EBC) have announced today a new cooperation agreement in the...

Read more
Ethiopia energy access

South Africa private companies to add 4Gw to grid by end 2024

June 2, 2023
Guidelines for PanAfrican payments and settlement system in Nigeria

TotalEnergies renews production license for Nigeria’s deep offshore block

June 2, 2023

South African digital bank Tyme raises US$77.8M

June 2, 2023

AfDB appoints Richard Kwaku Ofori-Mante acting director of the agricultural finance and rural development dept

June 2, 2023

FurtherAfrica Partners Network

The Exchange Farmers Review Africa 360 Mozambique
TechGist Africa Energy Capital & Power Club of Mozambique
Taarifa Rwanda Web3Africa See Africa Today
Africa Global Funds Novafrica CrudeMix Africa
Harambee Africa Botswana unplugged Financial Insights Zambia
O Económico Digilogic Africa  

Subscribe to FurtherAfrica

Enter your email address to receive new articles on your email.

Join 107,193 other subscribers.
FurtherAfrica

© 2021 FurtherMarkets

FurtherAfrica is a FurtherMarkets Limited platform

  • Countries
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About

Follow Us

No Result
View All Result
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About

© 2021 FurtherMarkets

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?